Teekay Offshore Partners Signs New FSO Contract With Statoil

Source: www.gulfoilandgas.com 5/22/2013, Location: Europe

Teekay Offshore Partners L.P. announced that it has entered into an agreement with Statoil Petroleum AS (Statoil), on behalf of the field license partners, to provide a floating storage and offtake (FSO) unit for the Gina Krog oil and gas field located in North Sea.

The contract will be serviced by a new FSO unit converted from the 1995-built shuttle tanker, Randgrid, which is currently 67 percent owned by Teekay Offshore. The Partnership's portion of the FSO conversion project is expected to be completed for a total net capital cost of approximately $220 million, including the cost of acquiring the remaining 33 percent ownership interest in the Randgrid shuttle tanker. Following completion in the first quarter of 2017, the newly converted FSO unit will commence operations under a 3-year firm period time-charter contract to Statoil, which includes 12 additional one-year extension options.

"This strategically important conversion project represents another milestone in Teekay Offshore's expanding FSO franchise," commented Ingvild S?ther, President, Teekay Shuttle and Offshore Services. "The Gina Krog FSO project highlights how Teekay Offshore can combine its growing offshore project development capability and financial resources to provide an FSO solution to Statoil while repurposing an existing shuttle tanker asset to generate distributable cash flow accretion."


Indonesia >>  8/16/2022 - A floating production unit built to ABS Class standards by Jiangsu Strong Wind Shipyard (JSSW) has been handed over. The TRUNOJOYO 01 FPU will be towe...
Congo >>  8/5/2022 - EXMAR is pleased to announce that it has signed an Agreement with Eni for the sale of the TANGO FLNG.

TANGO FLNG floating liquefaction pla...


United Kingdom >>  8/4/2022 - Dagang NeXchange Berhad (DNeX), via its subsidiary Ping Petroleum UK PLC (Ping), has renamed its recently acquired Floating Production Storage and...
Guyana >>  8/2/2022 - KOTUG Guyana Inc. (100% local subsidiary of KOTUG International B.V.) has been awarded a second contract by Esso Exploration and Production Guyana Lim...

Angola >>  7/28/2022 - Yinson, through its subsidiary Yinson Acacia Ltd, through its subsidiary Yinson Acacia Ltd, has entered into an exclusivity agreement with bp Explorat...
France >>  7/26/2022 - Technip Energies Loading Systems will supply a Marine Loading Arm to TotalEnergies as part of the Floating Storage and Regasification Unit (FSRU) proj...

Related Categories: Diving Contractors  Dredging  FPSO Vessels and Equipment  General  Marine Services  Mooring Systems  Offshore Platforms  Subsea Production 

Related Articles: Diving Contractors  Dredging  FPSO Vessels and Equipment  General  Marine Services  Mooring Systems  Offshore Platforms  Subsea Production 


Gulf Oil and Gas
Copyright 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.